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In 1971 the surplus reached US$4.3 billion, and its rapid increase was a main factor behind the United States decision to devalue the dollar and pressure Japan to revalue the yen—events that led quickly to the end of the Bretton Woods System of fixed exchange rates. By 1972 Japan's surplus had climbed to US$5.1 billion, despite the ...
The Japan Act of Specified Commercial Transactions (特定商取引法) aims to protect consumers from harm and to ensure fairness in commercial transactions. It is described and explained in a publication by the Japan Consumer Affairs Agency (JCAA). [1] Door-to-door sales have been prone to conflicts between consumers and companies. It ...
In the United States, CoCom compliance was implemented by various statutes authorizing the President to regulate exports, including the Export Control Act of 1949, the Export Administration Act of 1969, the Export Administration Act of 1979, the Arms Export Control Act (AECA), the Trading with the Enemy Act, and the International Emergency Economic Powers Act, among others.
Japan's membership in the OECD has constrained its foreign economic policy to some extent. When Japan joined the OECD in 1966, it was obliged to agree to OECD principles on capital liberalization, an obligation that led Japan to begin the process of liberalizing its many tight controls on investment flows into and out of Japan. Japan is also a ...
The Ministry of International Trade and Industry (通商産業省, Tsūshō-sangyō-shō, MITI) was a ministry of the Government of Japan from 1949 to 2001. The MITI was one of the most powerful government agencies in Japan and, at the height of its influence, effectively ran much of Japanese industrial policy, funding research and directing investment.
A common commercial policy can sometimes be agreed by treaty within a customs union, as with the European Union's common commercial policy and in Mercosur. A nation's commercial policy will include and take into account the policies adopted by that nation's government while negotiating international trade.
International Commercial Law is a body of legal rules, conventions, treaties, domestic legislation and commercial customs or usages, that governs international commercial or business transactions. [1] A transaction will qualify to be international if elements of more than one country are involved. [2]
Generally, the goods must be of the quality, quantity, and description required by the contract, be suitably packaged and fit for purpose. [46] The seller is obliged to deliver goods that are not subject to claims from a third party for infringement of industrial or intellectual property rights in the State where the goods are to be sold. [47]